Shane Smith, Former Reagor-Dykes CFO, Files Defense in Federal Court
One of the parties in a lawsuit filed against management of the Reagor-Dykes Auto Group has filed a defense in federal court.
Shane Smith, the former CFO for Reagor-Dykes, responded to a lawsuit filed last month by First Bank and Trust. KAMC News reports First Bank and Trust sued a list of people and companies involved with Reagor Dykes, and one of the claims made in the suit was accusing Reagor Dykes of check kiting. Reagor Dykes, in a previously filed response, put the blame on Shane Smith.
On Tuesday (Oct. 23), Smith filed his defense, which says First Bank and Trust contributed to the problem and that the claims are false. Reagor-Dykes fired Smith from his CFO position on August 1st, when a majority of Reagor-Dykes companies filed for bankruptcy.
Three local banks have accused Reagor Dykes of check kiting and FB&T’s lawsuit is one of several court cases related to Reagor Dykes’ bankruptcy.